You may have convinced yourself that winning the lottery is an almost impossible thing. You already believe that picking the right combination of numbers among the 38 on the list requires the greatest amount of luck any person could ever have. Yes, that’s right. You need luck in order to win. Even at that, there are a lot of lottery systems out there promising to make you more money winning in the lottery every time. Any lottery system that guarantees you of winning is a scam and you will just be wasting your money on them.

The creators of Smart Billions understood this as a problem which lead them to find the best solution that will protect people from being scammed. At this point, many “how” questions may be running through your mind. Well that’s what this write-up is for. In order to achieve this, the creators of this revolutionized lottery system are leveraging the new blockchain technology in collaboration with smart contracts.

In simple terms, The Blockchain is a distributed database, which utilizes the digital ledger technology that stores transaction records, and shares them among a distributed network of computers. By means of cryptography each participant of the network can access and manage the ledger in a secure way.  No central authority in this system is needed. The blockchain maintains a continuously-growing list of records (blocks), each containing a timestamp and a link to the previous one.

On the other hand, smart contract is a term used to describe computer program code that is capable of facilitating, executing, and enforcing the negotiation or performance of an agreement (i.e. contract) using blockchain technology. The entire process is automated can act as a complement, or substitute, for legal contracts, where the terms of the smart contract are recorded in a computer language as a set of instructions. Smart Contracts are considered as the blockchain technology that will replace lawyers.

The working procedure of the conventional lottery system has always had the involvement of a third party when it came to the parts where funds are processed. With the decentralized nature of the blockchain technology, Smart Billions is independent of all the restrictions that stops many people from winning what they deserve because it provides an unlimited jackpot potential. As Smart Billions fully supports all the fundamental blockchain values (decentralization, disintermediation, transparency, security and freedom), there’s no room for greedy ICO’s business models having fraudulent intentions by providing unfair fund and token distribution schemes.

One thing to note is that, Smart Billions isn’t a company. It’s a blockchain service that employs the use of smart contracts for the sole aim of creating a transparent lottery system and decentralizing that factor that has always stopped a lot of people from winning their lotteries; fund distribution.

The Smart Billions team intends to launch an ICO to support the project by having people invest in what seems to be the long-lasting solution to the lottery problem. This ICO is set to begin on the 16th of October, 2017 on the Smart Billions website with the target of creating 252,000,000 SMART Tokens and reserving 200,000,000 and 52,000,000 for the ICO Backers and the development team respectively, after which it will take off as a website using Ethereum. This however will make it possible for individuals to play even with their mobile devices.

So far, the creators of the Smart Billions project have chosen to remain anonymous for the time being.

The details of the Smart Billions token sale are as follows:

 

  • Start Date: October 16, 2017
  • Maximum Cap: 200,000 ETH
  • Currency Accepted: ETH
  • Token Exchange Rate: 1 ETH = 1000 SMART Tokens
  • Max Transaction Amount: Unlimited

 

The benefit gotten by SMART Token Holders is that, they will be able to place an order for the dividend payout directly from their Ethereum wallet.

Read details about project, ICO and tokens in the White Paper: https://www.smartbillions.com/docs/SmartBillions_Smartpaper.pdf

Smart Billions website:

https://www.smartbillions.com/

 

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My name is Bisola Asolo and I am a crypto enthusiast. I love reading and writing about anything and everything related to cryptocurrency and blockchain technology!

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